On Wednesday, Governor Charlie Baker announced tax relief measures for local small businesses which have been impacted by the ongoing COVID-19 outbreak, according to a press release from the state house. This tax relief, which legislators see being especially impactful in the restaurant and hospitality sectors, includes postponing the collection of regular sales tax, meals tax, and room occupancy taxes that would be due in March, April, and May. They will instead be due on June 20, and all penalties and interest that would have accrued from late payments will be waived.
The Mass. Department of Revenue is currently drafting emergency regulations to implement these measures; they should be finalized by Friday, March 20.
I just went online to apply for an SBA loan, and evidently because Massachusetts has not yet declared a State of Emergency I’m not eligible, any idea when Gov Baker might do that so small business owners can apply ??
It’s been declared.
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